The article considers the main theoretical and legal aspects of the institute of digital currencies of central banks, as well as the concepts of legal regulation of the circulation of digital currencies of central banks in the Russian Federation and in foreign countries with different approaches to regulating this area of legal relations. Within the framework of legal science, the scientific discussion regarding approaches to the legal regulation of the circulation of digital currencies was studied. During the comparative legal analysis, the advantages and disadvantages of these approaches were identified, and classifications were studied, their characteristic features were noted and analyzed taking into account the legal systems of foreign states. In addition, the possibilities for the cross-border use of digital currencies of central banks in the context of current sanctions restrictions were studied. The article analyzes in detail the legal essence of digital currencies of central banks, and in particular the digital ruble, as well as the features of the legal technique of regulatory legal acts regulating public relations in the field of implementation and circulation of the digital ruble. Based on the results of the study, it was concluded that over the period from 2014 to the present, the Russian legislator has changed the direction of its policy in terms of legalization of the legal status of digital currencies from a prohibitive nature to a neutral one, while to date no systemic decisions or framework regulatory legal acts have been adopted, as a result of which digital currencies continue to be in the “gray zone”, thereby generating legal uncertainty in the field of law enforcement. It was also concluded that in connection with the introduction of the digital ruble as the digital currency of the Central Bank of Russia, by analogy with foreign jurisdictions, the issue of forming a basic civilistic legislation in Russia will be worked out, which will create a regulatory framework for the institutions under consideration, as well as develop a unified approach in terms of legal assessment and interpretation of legal relations arising in this area.

digital currency, cryptocurrency, central bank digital currencies, central bank, Bank of Russia, emission, electronic money

Mikhailov Ivan Nikolaevich – Postgraduate, Faculty of Law, Russian Presidential Academy of National Economy and Public Administration (82, Vernadsky av., Moscow, 119571, Russian Federation), RSCI Author ID: 1078875, ORCID: 0009-0004-6555-1388, e-mail: subaruwrx98@gmail.com

Mikhailov I. N. Pravovoj analiz zarubezhnyh modelej regulirovaniya instituta cifrovyh valyut central'nyh bankov [Legal analysis of foreign models of regulation of the institute of digital currencies of central banks] Sibirskij yuridicheskij vestnik [Siberian Law Herald]. 2025, no 3(110), pp. 55–63. – DOI 10.26516/2071-8136.2025.3.55 (in Russian)

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